Word Of God Trust Bank Group
Industrious Augustine is the father of six children who are between 8 and 20 years old. He says all are currently in school. As the bread winner, Augustine works very hard to ensure that the needs of his family are adequately met. He is into poultry farming. It is his desire to give all of his children the best education he can afford. Having been in the poultry rearing business for three years, Augustine intends to save and put up a building to house his family.
Most of the group members are into all kinds of trading activities. The group requests for a loan amount to enable them to procure goods and raw materials in bulk to revamp their businesses.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid